On August 7th, WTI (USO) nominal exposure was approximately 25.6569 million barrels, an increase of 3.626 million barrels in a single day; Brent (BNO) futures open interest was approximately 7.231 million barrels, an increase of 2,000 barrels in a si

Witnesses reported multiple loud explosions in Kyiv, Ukraine's capital.

1. Plans to Invest Over $180 Million in Mining Industry Education —According to CBS News, US President Trump plans to announce over $180 million in funding on Friday to support education and trade programs in the mining industry, aiming to increase production of critical minerals. The US Department of Energy will launch a $100 million funding program to expand the workforce in the mining and critical mineral sectors and significantly increase the number of professionals with relevant degrees over the next two years. 2. Declares US Energy Independence—At a mining roundtable, Trump stated: "We've achieved energy independence, and now we're achieving economic independence. The United States must mine, refine, and manufacture critical minerals domestically." 3. Will Appeal Ruling Regarding White House Banquet Hall Project —A court ruling shows that a US appeals court blocked Trump's $400 million White House banquet hall project but suspended enforcement of the ruling for 14 days. Trump posted on social media that he will immediately appeal the federal appeals court's ruling blocking the White House banquet hall project to the US Supreme Court, calling the ruling "politically motivated and illegal." 4. Seeking to Continue Moving Forward to Fire Federal Reserve Governor Cook —According to ABC News, sources say Trump is moving forward with efforts to remove Federal Reserve Governor Lisa Cook from her post, demanding she respond to allegations within three weeks. This move follows a Supreme Court ruling in June that upheld restrictions on presidential attempts to remove Federal Reserve members. 5. Reportedly Discusses Economic Issues Frequently with Warsh —According to White House National Economic Council Director Hassett on Friday, President Trump and Federal Reserve Chairman Warsh frequently discuss economic issues. Hassett stated he does not listen in on these calls but insisted he is “confident” the president will not pressure Warsh regarding interest rate decisions.